GE Money have sold their mortgage book to OTAGAZ Gestion Hipotecaria

Ads, I do not disagree with the content of your constant postings criticising the lack of justice and fairness in Spain. But it is their country and of their making. If that’s how they want it to be, so be it. We are just guests here and no one forced us to come. If you feel so strongly about it you have the option to vote with your feet.

Leave the Spanish to sort out Spain.

Ads my point was that in regard to the selling on of mortgages Spain is no better nor any worse than anywhere else. Having worked in the mortgage market here since 2003 there are lenders that I prefer to place business with over others because their service and transparecy targets exceed other lenders - there are lenders I wouldnt touch with a bargepole. While my hard earned UK qualifications are no longer relevant here in Spain we attempt to offer the same type of service clients expect to receive when dealing with a UK regulated broker. 

The problem regarding getting the entire market to shift to a more transparent and fairer and compliant process lies with The Bank of Spain I am afraid as they are the ones that impose the directives on the lending market. 

As to the marketing aspect - when I arrived here way back when I would market our business to potential introducers as being voluntarily compliant with UK guidelines - largely speaking those introducers laughed in my face and I was usually shown the door simply because the attitude then was that they would walk the client into a bank and as long as they had a pulse and a passport then a mortgage would be approved....... 

As I say some lenders are better than others but I think that Kavanagh has hit the nail on the head.....its Spain and they have a different way of doing things....whether we as "outsiders" like it or not

All citizens affected by lack of regulation in Spain deserve the right to strive for change and should not be silenced in their genuine desire for reform that has the potential to eradicate corruption and abuse, that tackles the lack of accountability and transparency, that impacts ALL, Spanish and foreign nationals alike.

Kavanagh, On what basis do you make the assumption that this is how they want it to be, when you see so many citizens suffering at the hands of the Banks behaviour in Spain?

I remember Maria many moons ago kindly recognising from first hand experience the positive impact that those who strive for improvements and acted as pioneers within the system of justice to make Banks accountable have made in Spain,  (those who you would deny the right to voice their opinions, judging them to be interfering).

We can all learn from one another and should never be afraid to speak out against corruption and abuse from wherever it emanates, nor be unwilling to retain open minds when it comes to seeking out best practice that improves the lives of all in the longer term.

That is totally different from consideration and genuine respect for the differences in culture and custom. To normalise corruption and abuse of this nature is IMHO wrong in any civilised western society when we are increasingly living and sharing lives alongside one another, and equally impacted from such uncomfortable realities.

But each to their own.

This message was last edited by ads on 24/04/2018.

Spain is a democratic country and therefore any change required will eventually be brought about by the will of the people and not by foreigners’ who are only guests and not Spanish nationals. You should treat the country and it’s nationals with more respect. 

Our posts crossed Kavanagh so I will repeat my update....

We can all learn from one another and should never be afraid to speak out against corruption and abuse from wherever it emanates, nor be unwilling to retain open minds when it comes to seeking out best practice that improves the lives of all in the longer term.

That is totally different from consideration and genuine respect for the differences in culture and custom. To normalise corruption and abuse of this nature is IMHO wrong in any civilised western society when we are increasingly living and sharing lives alongside one another, and equally impacted by such uncomfortable realities.

But each to their own.

Ads that might be a fair statement but are you saying that the Spanish do not have either the will or intelligence to sort it out themselves and therefore need foreigners who are guests to do it for them?. They may consider your opinions somewhat insulting.

Of course, you foreigners make a very positive impact when challenging us for better practices! 

Law 57/68 actions were encouraged by Keith Rule in early 2008, many called him crazy;  now... it is a solution for thousands of people ( both foreign and national). Bravery and clear mind is not a matter of nationality. 

Yes, more regulation, more control by Bank of Spain. Much necessary.

The matter of stopping these speculative practices by banks and hedge funds is such a challenge. As very rightly Smiley has said the whole mortgage market is based on these practices. Through the good application of Financial Consumer Law, many things are changing.

Thank you Maria.

Kavanagh

As ever you misinterpret what I am saying once again.

Please stop this michievous behaviour!

Dear ads

I apologise if that is how you see my behaviour. I do understand your opinions on this subject and agree with most of them. All I have ever been saying is let them sort it out.

Team work Kavanagh is not something to be underestimated and can often improve relationships and understanding across nationalities and cultures, especially with a common purpose in mind. :)

I too accept that it is their country but surely if we purchase property and pay all our fees and taxes we should be treated equally.

Having dealt with local politics, banks, Administrators etc inwoujd suggest many are reluctant to change the practices that have been in place for years and suggestions or proposals made by Brits can be viewed as insulting and interfering by many, even IF the suggestions are positive.

The interesting fact is that if Community related and you can introduce changes by a democratic process the locals who will nearly always oppose the proposal initially often see it can be to their advantage and are all for it after a while.

No doubt these changes will slowly come about with younger generations and the coming change in political power.

Surprising given EU regulations and directives that regulatory authorities in Spain are weak or don’t exist.

Interesting honest observations Hugh Man which reinforces the need to build trust and respect through proven good practice and the great potential from role models willing to work together in a common cause to improve the status quo for all.

If not careful the lack of understanding re "common purpose" with genuine intent to improve the status quo sadly has the potential to undermine progress that benefits all in this regard.